Dr. Arie Ovadia

Dr. Ovadia has been a member of the Board of Directors since 1997 and also serves on the boards of several other companies, including Oil Refineries Ltd., Carmel Olefins Ltd., Israel Petrochemical Works Ltd., Giron Development and Building Ltd., New Destiny Investments Ltd., Elron Electronic Industries Ltd., Scailex Corporation Ltd., Maxtech Communication Networks Ltd., Compugen Ltd. and Teva Naot Ltd. He holds a Ph.D. in Economics from the WhartonSchool of the University of Pennsylvania.